LUMINUS MANAGEMENT LLC 4
4 · Valaris plc · Filed Nov 25, 2019
Insider Transaction Report
Form 4
Valaris plcVAL
LUMINUS MANAGEMENT LLC
10% Owner
Transactions
- Conversion
Class A ordinary shares ("Common Stock")
2019-11-22$4.25/sh+17,206,642$73,128,229→ 36,982,076 total(indirect: See footnote) - ConversionSwap
Equity Swap (obligation to buy)
2019-11-22−1→ 0 total(indirect: See footnote)Exercise: $4.25Exp: 2019-11-22→ Common Stock (17,206,642 underlying)
Footnotes (2)
- [F1]The securities to which this filing relates are held directly by Luminus Energy Partners Master Fund, Ltd. (the "Master Fund"), for which Luminus Management, LLC serves as the investment manager. Jonathan Barrett is the ultimate beneficial owner of Luminus Management, LLC. The filing of this statement shall not be deemed an admission that any of the Reporting Persons is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. The Reporting Persons expressly disclaim beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein.
- [F2]The Master Fund was party to an equity swap agreement which was automatically physically settled pursuant to its terms at expiration on November 22, 2019.